Galectin Therapeutics (GALT) Trading Up 5.9%

Galectin Therapeutics Inc. (NASDAQ:GALT)’s share price was up 5.9% during mid-day trading on Monday . The company traded as high as $5.89 and last traded at $5.74. Approximately 750,389 shares traded hands during mid-day trading, an increase of 2% from the average daily volume of 736,973 shares. The stock had previously closed at $5.42.

A number of equities analysts recently issued reports on GALT shares. ValuEngine upgraded Galectin Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 1st. BidaskClub cut Galectin Therapeutics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 27th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of Galectin Therapeutics in a report on Thursday, August 16th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $6.94.

The firm has a market capitalization of $220.53 million, a PE ratio of -10.97 and a beta of 2.66.

Galectin Therapeutics (NASDAQ:GALT) last issued its earnings results on Tuesday, August 14th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). equities analysts forecast that Galectin Therapeutics Inc. will post -0.44 earnings per share for the current fiscal year.

In related news, Director Gilbert S. Omenn sold 19,370 shares of Galectin Therapeutics stock in a transaction on Monday, September 10th. The stock was sold at an average price of $6.02, for a total value of $116,607.40. Following the transaction, the director now directly owns 56,561 shares in the company, valued at approximately $340,497.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Marc Rubin sold 58,100 shares of Galectin Therapeutics stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $6.08, for a total value of $353,248.00. Following the completion of the transaction, the director now owns 84,581 shares in the company, valued at $514,252.48. The disclosure for this sale can be found here. Insiders sold a total of 326,370 shares of company stock worth $2,560,347 over the last 90 days. Insiders own 38.80% of the company’s stock.

Several institutional investors have recently modified their holdings of GALT. BlackRock Inc. boosted its position in shares of Galectin Therapeutics by 199.9% in the second quarter. BlackRock Inc. now owns 588,308 shares of the company’s stock worth $3,742,000 after buying an additional 392,151 shares during the period. EAM Global Investors LLC acquired a new stake in shares of Galectin Therapeutics in the first quarter worth $1,076,000. Millennium Management LLC acquired a new stake in shares of Galectin Therapeutics in the first quarter worth $454,000. Tibra Equities Europe Ltd acquired a new stake in shares of Galectin Therapeutics in the first quarter worth $301,000. Finally, ING Groep NV acquired a new stake in shares of Galectin Therapeutics in the second quarter worth $318,000. 13.60% of the stock is owned by institutional investors and hedge funds.

Galectin Therapeutics Company Profile (NASDAQ:GALT)

Galectin Therapeutics, Inc, a clinical stage biopharmaceutical company, engages in the research and development of therapies for fibrotic disease, skin disease, and cancer. The company's lead product candidate includes galectin-3 inhibitor (GR-MD-02), a galactoarabino-rhamnogalacturonan polysaccharide polymer for the treatment of liver fibrosis and liver cirrhosis in non-alcoholic steatohepatitis patients, as well as for the treatment of cancer.

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